RadioRecorder
RadioRecorder was an application I came across completely by accident. Now, I can't remember what I was looking for; but I'm certainly glad I found this beauty.
It's one of those great little apps that does one thing; but does it well. RadioRecorder records internet radio streams. Plain and simple. The icing on the cake is how it implements the task. You can schedule your recordings in advance, or instantly at the push of a button. The streams are saved as MP3 files, and automatically added to your iTunes directory in a custom playlist.
The big benefit to all of this, is that no matter how many tracks you have on your iPod, there's always room for something new. If you go jogging daily or take long road trips, 10 Gigs of individual tracks will start to seem old. By using RadioRecorder, you can get a fresh morning news program, a special in-studio appearance by your favorite artist, or a few hours worth of London radio (because I know how you feel about that accent!).
The only fault I could find with the existing application was the icon, so I whipped up a few of my own. There are two icons in this zip file → RadioRecorder Icons. Pick your favorite.
RadioRecorder is freeware (!). If you find the application useful, send a tip to the developer to encourage continued updates to the software.